CHINA HRC: Export transactions likely to pick up amid higher offers from elsewhere

Higher offers for Indian hot-rolled coil in the international market have raised the likelihood of transactions involving the flat product from China despite further price gains in the East Asian country’s domestic market.

Domestic
Eastern China (Shanghai): 3,820-3,830 yuan ($543-544) per tonne, up 10 yuan per tonne
Northern China (Tangshan): 3,660 yuan per tonne, down 10 yuan per tonne
Spot prices in eastern China continued to climb on Tuesday December 10 amid rising futures, but trading activity dropped, a source there told Fastmarkets.

The price gain was largely due to securities companies that trade in both the spot and futures markets who buy more from the former when the latter is on the rise, a trader in...

Published

Miranda Song

December 10, 2019

10:40 GMT

Shanghai